MetroPCS moderate losses on Sprint rumor

DanGallagher

SAN FRANCISCO (MarketWatch) -- Shares of MetroPCS
pcs
reversed course somewhat on Thursday morning, moderating from an earlier loss of nearly 9%, following a report that Sprint
S, -2.53%
was considering making a counter-bid for the pre-paid wireless carriers. MetroPCS announced on Wednesday that it agreed to merge with T-Mobile USA, a unit of Deutsche Telekom. A report from Bloomberg on Thursday morning said Sprint was "in the early stages" of evaluating a potential counter-offer, according to three unnamed sources "familiar with the offer." Sprint had been speculated as an earlier bidder for MetroPCS, and the merger with T-Mobile is widely seen as putting the wireless carrier at a disadvantage in the market. MetroPCS shares were last trading down 1% at $12.10.

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